Bankrupt Ormet sold to Wayzata

May 10, 2013 | 12:26 PM | Michael Cowden

Tags  Ormet, Wayzata Investment Partners LLC, Smelter Acquisition LLC, acquisition, bankruptcy, auction, power costs, labor legacy costs

CHICAGO — Bankrupt aluminum company Ormet Corp. has been sold to an entity owned by private equity firm Wayzata (Minn.) Investment Partners LLC, according to court documents filed in U.S. Bankruptcy Court in Delaware.
The Hannibal, Ohio-based company had originally been scheduled to go to auction next week, but the auction was canceled because no bids besides that from stalking horse bidder Smelter Acquisition LLC, a Wayzata entity, were received and no objections to the proposed sale were....

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